OUR CUSTOMER PROPOSITION Bringing traditional Italian street food from the carts of Italy to the people of the UK. Tapping into the nations love of Italian flavour and giving it a unique modern twist that hits the market’s need for fast, high quality, healthy food.
THE CONCEPT WOLF blends traditional Italian street food classics with stimulating new flavours to excite the most discerning of palates. Fast, fresh and fun WOLF delivers an explosion of taste to its customers using the finest ingredients from the best locally sourced suppliers. WOLF is health focused and understands the market’s movement towards high quality and nutritious foods. Our Italian chef has inspired our dishes, sauces and dressings right from the street carts of Italy.
COMPETITIVE EDGE The shops work on an A1 classification, using self-extracting ovens and no gas or frying requirements. The stores can work in numerous footprints: mall, stand alone, high street, business district and transport hubs. High quality food, fast and affordable. The WOLF concept has a high level of customer loyalty due to its variety and quality of product, which allows our customers to visit multiple times a week without getting bored.
The concept can trade throughout the day. Strong morning breakfast trade serving Italian coffee and and pastries freshly baked in house. The speed of service in an engaging casual environment allows for us to maximise sales from the short lunch period providing take out and a relaxed eat in service. The lunch trade is complemented by a new “Wolf in the Office” delivery menu, which taps into the lucrative corporate lunch meetings market. Evening service – can be aided by a license to serve alcohol. Average spend of £7 and process time of 90 seconds. We use our own developed till technology, which enables us to track exactly what each shop is selling in real time and is a complete cloud based solution. The system also integrates loyalty, delivery and Apple pay using a customer app.
HOME OF THE WOLF The stores have an informal, uncomplicated and rustic feel. Using a variety of wooden finishes, reclaimed metal work and ducting. Bespoke lighting and counter design gives WOLF stores the wow factor. The stores will evolve and change to best represent their building and location but will remain instantly recognisable through the strong branding and signage. The unique products we use in our recipes will be available to our customers to buy to recreate at home. Custom sauces and pesto’s Salad dressings Pastas Olive and chilli oils Piadina’s and focaccia breads Classic Italian POS We will also be launching a short range of WOLF clothing; hoodies, t-shirts and caps.
THE FOOD Piada/Piadina: Thin crust traditional Italian flatbread made with flour, water, salt and olive oil. Salads: Fresh, seasonal salad leaves finished with homemade dressings. Pasta: Spaghettini or Penne with fresh hot sauces or cold pesto dressings. Breads: Italian focaccia variety supplied by a locally selected bakery. Pizza: Stone baked, thincrust pizza ready in 70 seconds. *Gluten-free also available in selected stores
All meats are marinated on site for 24hrs. All meat is sourced from our northern butchery and is free range. Seasonal vegetables are sourced daily from local producers and cut and prepped on site. All sauces and dressings are freshly made to our unique Italian recipes. We pride ourselves on traditional Italian recipes but like to put a modern twist to make us stand out from the crowd. We keep a close eye on salt and saturated fat levels in all our recipes and always look for the healthy option.
OUR CUSTOMERS This varies depending on location but there are certain characteristics of all our customers: They want something better. Our customers are looking for something new, something different and exciting. In all our locations we have a strong following from the business community who want something they can bespoke and they demand the highest quality. The choice we provide meets this demand. PROFESSIONALS Great Choice
High Quality
Good Value
Good Value
SHOPPERS High Quality Great Choice
Healthy
Quick Service
Family Environment
THE RIGHT PRICE For the lunchtime market we hit the ÂŁ7 average spend. This perfectly fits with our target market customer who is expecting high quality food served quickly, which can be taken away, eaten in, or even delivered.
AGENCY TK We have strived to create something truly special for the guys at WOLF Street Food whose USP included pushing boundaries, being controversial, edgy and most importantly different to everyone else in the ‘fast casual’ food sector. As a fully integrated agency, we provide a full suite of marketing, PR, design and digital services. For us, no challenge is too big. We share a love of what we do and are united in our quest to deliver the very best results. WOLF is a brand that everyone responds to and cannot ignore.
A WOLF DOESN’T WORRY ABOUT THE OPINIONS OF SHEEP
PRESS
MARKET RESEARCH The UK market for dining across branded chains is thought to be worth around £16.4bn currently, but is expected to grow to £22.0bn over the next five years.
Diners spent 7% more on eating out year-on-year in February 2015, demonstrating a rise in consumer spending for a 7th consecutive year – Big Hospitality
“There are more younger people looking for good food but not in places with fancy decor and linen tablecloths. Eating out has become almost like eating in another room in a house.” – Tim Zagat
“The format is also associated with freshness, with food being prepared freshly or cooked in front of the customer, enabling them to customise their dishes made to order and has thrived due to its diverse audience appeal – from families, to students, office workers and tourists.”
THE TEAM FOUNDERS - Tim Entwistle & James Hoole Finance Director - Simon Blackburn Franchise Directors – David Liveing & Matteo Frigeri Operations Manager – Karen Stephenson & Andrea Zanusso Head of Supply – Brett Marshall Head of Shopfit – Tom Forester Property Agent – Joel Berg
THE TEAM TIM ENTWISTLE – FOUNDER
JAMES B. HOOLE – FOUNDER
Over 10 years experience in the Food and Marketing sectors, has founded, operated and sold several businesses. Has a strong passion for food and bringing new ideas to market, creating strong operational and marketing teams to push concepts to deliver their market potential. Founded WOLF early in 2015 with business partner James Hoole.
A seasoned entrepreneur in the UK retail industry. With now over 15 years experience in the Food, Retail and Tech sectors. Starting in the family restaurant and cafe business, James successfully developed this into a multi site establishment and sold it to a large brewery in 2010. Founded WOLF early in 2015 with business partner Tim Entwistle, James has also developed cutting edge POS technology to support WOLF and other retail businesses with Verofy.
DAVID LIVEING – FRANCHISE DIRECTOR
MATTEO FRIGERI – FRANCHISE DIRECTOR
Managing Director with a successful track record and 25-year experience in F&B and retail in both in franchise operations and consultancy, in the UK and internationally. David has worked in franchising and operations with a variety of companies, including Mulberry, Oasis, Aer Rianta Travel Retail and Tihama Middle East.
Franchise Business Developer with fifiteen-year experience in franchising within the food retail industry – quick-service and fastcasual segments – in the UK and internationally. Founder of Seeds Consulting, the driving force behind the development of emerging food concepts in the UK.
SIMON BLACKBURN – FINANCE DIRECTOR
Bringing almost 20 year’s experience in diverse financial business consulting to the business. Following 10 years in a leading accountancy practise Simon now works with a select handful of businesses to assist them achieve their financial objectives. Simon currently works as FD heading up £20m of income and almost 200 employees in the retail and services sector. His expertise and experience lies with clients ranging from £1m to £50m; including all aspects of financial forecasting, accounting and control, resource allocation, implementing budget reductions, writing business plans, and raising finance. Simon provides superior leadership during critical transition phases and has participated in raising over £20 million in finance from a variety of channels.
INVESTMENT PROPOSITION REVENUE
REQUISITE INVESTMENT £750,000 investment to be predominantly used towards capital for new Wolf-Owned Stores and operational expenditure for the franchise development.
£750K
£5.8m projected turnover when ALL units are operational in Year 4
EBITDA £1.3m EBITDA Margin in Year 4.
SCALE With one Wolf-Owned unit and three existing franchises currently, Wolf plans to roll out a total of 37 Units across the UK over a 3 year period. • 30 Franchised Stores and • 7 Wolf-Owned Units
37 Units
RETURN ON INVESTMENT Investment of £750,000 Yield 363% (3.6x) return (£2.7m) in year 4
£5.8M
£1.3M
363%
COMMERCIAL CONCEPT 1. A1 Concept
6. Wages 27%
2. Small Process Driven Menu
7. Two Main Suppliers
3. Maximised Revenue per sq.ft.
8. Unique concept to the UK high streets
4. Fully Franchised Process
9. Operational:
5. Food GP 72%
• Office • Mall • Travel Hubs • High Street
PLANNED COMPANY SALE IN YEAR 4
37
STORES
72% FOOD GP
27% WAGES
A1
PLANNING
PAST PERFORMANCE TABLE Year 1 Full Profitability 2015/2016 One company Store Three Franchisees Wolf Group £113,855 EBITDA Total Investment to date over £500,000 Company store Chiswick Park Store £67,193 EBITDA (First 9 Months)
Franchise Group Franchise £46,662 EBITDA (First 9 Months)
Group Past Performance (Existing Units 1-4) Schedule
Gross
Gross Revenue Wolf Owned - Chiswick Branch
£366,319
Franchise Royalties
£88,088
Gross Group Revenue
£454,407
Direct Costs Cost of Sales (Unit 1 Wolf Owned Only)
£299,126
Royalties & Marketing Fees (Franchises)
£41,426
Gross Direct Costs
£340,552
Gross Profit
£113,855
Gross Profit %
25%
Group EBITDA
£113,855
Group EBITDA %
25%
INVESTMENT DETAIL 1.
Over £500,000 investment to date
2. £750.000 (S)EIS investment required 3. 22.6% equity in return for required investment 4. Valuation is based on 6x multiple of EBITDA in Year 2 5. SEIS & EIS registered 6. Exit from Year 4 via sale/acquisition 7. Valuation in year 4 is projected at £15.3m
ROI/Dividend Return Investment Level
Equity
Cummulative Dividends (Over 4Yrs)
Equity at Exit (Yr 4)
Gross Return at Exit
ROI
ROI at Exit %
£500
0.02%
£0
£2,316
£2,316
£1,816
363%
£1,000
0.03%
£0
£4,631
£4,631
£3,631
363%
£2,500
0.08%
£0
£11,578
£11,578
£9,078
363%
£5,000
0.15%
£0
£23,156
£23,156
£18,156
363%
£10,000
0.30%
£0
£46,312
£46,312
£36,312
363%
£25,000
0.75%
£0
£115,781
£115,781
£90,781
363%
£50,000
1.50%
£0
£231,561
£231,561
£181,561
363%
£100,000
3.01%
£0
£463,123
£463,123
£363,123
363%
£350,000
10.53%
£0
£1,620,930
£1,620,930
£1,270,930
363%
£500,000
15.04%
£0
£2,315,614
£2,315,614
£1,815,614
363%
£750,000
22.56%
£0
£3,473,421
£3,473,421
£2,723,421
363%
STORE ROLL-OUT With 4 existing units (1 Company owned and 3 franchised) by September 2015. With investment a further 6 company-owned stores and 27 franchises over 3 years. 37 WOLF outlets by 2019.
37 35 30 28
Gross Units
Franchised
22
Existing Units (2015)
17 12 9
4 3 1
2015
3
Year 1
7
7
Year 3
Year 4
5
Year 2
Wolf Owned Units
FORECAST PERFORMANCE TABLE Sales Forecast (ex VAT) Schedule
Year 1
Year 2
Year 3
Year 4
12
23
37
37
£1,252,303
£2,385,857
£3,673,863
£4,038,662
£120,000
£180,000
£240,000
£0
Franchisee Royalties Due (Existing Units)
£100,980
£108,950
£114,397
£120,117
Franchisee Royalties Due (New Units)
£109,368
£344,638
£736,080
£964,491
Gross Franchise Royalties
£210,348
£453,587
£850,477
£1,084,608
National Marketing Fees (3 Existing Franchises @ 1%)
£16,830
£18,158
£19,066
£20,019
National Marketing Fees (New Franchises @ 2%)
£36,456
£114,879
£245,360
£321,497
Subtotal Marketing Fees
£53,286
£133,038
£264,426
£341,516
Gross Purchases
£1,258,403
£2,617,633
£4,664,183
£5,750,99
Subtotal Other Revenues
£31,460
£130,882
£349,814
£431,324
Gross Revenue
£1,667,397
£3,283,364
£5,378,580
£5,896,111
Food & Drink (Purchases)
£350,645
£668,040
£1,028,682
£1,130,825
Consumables
£31,308
£59,646
£91,847
£100,967
Franchise Fee (Boarding Costs)
£64,800
£97,200
£129,600
£0
Royalties Costs of Sales
£0
£0
£0
£0
Marketing Fee Costs of Sales
£53,286
£133,038
£264,426
£341,516
Gross Direct Costs/Cost of Sales
£500,038
£957,924
£1,514,554
£1,573,308
Gross Units (Existing, New & Franchises) 1. Yearly Sales Revenue (Wolf-Owned Units) Subtotal Dry Sales Revenue 2. Franchise Fees Franchise Fees 3. Franchisee Royalties Revenue
4. Marketing Fees (Franchised Units)
5. Other Revenues
Direct Cost
KPI CHART £7,000,000
£6,000,000
£5,000,000
£4,000,000
£3,000,000
£2,000,000
£1,000,000
£0 Year 1
Year 2
Year 3
Year 4
Gross Revenue
£1,667,397
£3,283,364
£5,378,580
£5,896,111
Gross Profit
£1,170,553
£2,363,043
£3,981,497
£4,502,772
EBITDA
£135,020
£496,818
£1,102,314
£1,353,954
Net Profit
£80,874
£334,712
£780,746
£976,192
£500,388
£563,847
£1,164,559
£2,313,149
Cash Balance
PERSONNEL EXPENDITURE Personnel 2017
2018
2019
2020
Mr James Hoole (CEO)
£50,000
£50,000
£51,250
£52,531
Mr Tim Entwistle (COO)
£50,000
£50,000
£51,250
£52,531
Operations Director
£0
£60,000
£61,000
£63,038
CFO (Part-Time)
£0
£39,500
£55,000
£56,375
Franchise Director
£0
£60,000
£60,000
£61,500
Area Manager 1
£36,998
£37,000
£40,000
£40,000
Area Manager 2
£0
£37,000
£40,000
£40,000
Area Manager 3
£0
£0
£40,000
£40,000
Area Manager
£0
£37,000
£40,000
£40,000
Head of Food Development (Consultant)
£12,000
£18,000
£18,450
£18,911
Compliance Officer (Part-Time)
£15,000
£30,000
£30,750
£31,519
Office Manager
£25,000
£25,625
£26,266
£26,922
Subtotal Head Office Salaries
£215,998
£407,125
£474,466
£483,327
Gross Wolf Units Salaries (inc National Insurance)
£338,122
£644,181
£991,943
£1,090,439
Staff Bonuses
£0
£52,565
£73,320
£78,688
Subtotal Personnel Expenditure
£433,422
£1,003,889
£1,351,771
£1,454,118
% (Inc Head Office Wages)
33%
34%
29%
28%
Head Office Salaries
2.5%
5%
Annual wage increases on Head Office Salaries
Bonus On Gross Salaries from Year 2
27.7% Percentage of Wolf Units sales revenue representing shop staff cost (inc. National Insurance payments)
OVERHEADS & BURN RATE Overheads & Marketing Expenditure Schedule
Year 1
Year 2
Year 3
Year 4
National Marketing (Franchises)
£53,286
£133,038
£264,426
£341,516
Trade Shows/New Franchise Marketing
£24,000
£24,000
£24,000
£24,000
Brand Launch Marketing/PR
£0
£0
£0
£0
Local Marketing
£12,523
£0
£0
£0
National Marketing & PR Campaign
£18,785
£0
£0
£0
Subtotal Marketing Expenditure
£108,594
£157,038
£288,426
£365,516
%
7%
5%
5%
6%
Serviced Head Office Rent (Manchester)
£10,000
£10,000
£10,000
£10,000
Insurance
£375
£384
£394
£404
Office Telephone & Broadband
£600
£615
£630
£646
Mobile Phone (x7 Staff @ £80 each)
£3,600
£3,600
£3,600
£3,600
Print, Post & Stationery
£1,800
£1,845
£1,891
£1,938
Travel & Motor Expense
£6,000
£6,150
£6,304
£6,461
IT Costs
£1,800
£1,845
£1,891
£1,938
Production Kitchen Rental
£5,000
£5,000
£5,000
£5,000
Contingency
£729
£736
£743
£750
Subtotal Overheads
£29,904
£30,175
£30,453
£30,738
Marketing
Overheads (Head Office)
Continued over page
OVERHEADS & BURN RATE CONTINUED Overheads & Marketing Expenditure Year 1
Year 2
Year 3
Year 4
Chiswick Unit Rent
£28,000
£28,000
£28,000
£28,000
Chiswick Unit Rates
£6,000
£6,000
£6,000
£6,000
Average Rent (London Units)
£120,000
£80,000
£160,000
£160,000
Average Rent (Outside London Units)
£0
£90,000
£160,000
£180,000
Rates
£48,000
£68,000
£128,000
£136,000
Kitchen Supplies
£5,000
£9,000
£13,333
£14,000
Utilities
£22,500
£40,500
£60,000
£63,000
Insurance
£45,000
£81,000
£120,000
£126,000
Telephone
£3,750
£6,750
£10,000
£10,500
Print, Post & Stationery
£2,500
£4,500
£6,667
£7,000
Accountants
£5,000
£9,000
£13,333
£14,000
Equipment Rental
£7,500
£13,500
£20,000
£21,000
Credit Card Charges
£32,880
£109,041
£246,512
£282,706
Sundry Items
£3,000
£5,400
£8,000
£8,400
Repairs
£6,250
£11,250
£16,667
£17,500
Contingency
£7,534
£13,199
£24,063
£26,003
Subtotal Overheads
£342,914
£575,140
£1,020,575
£1,100,109
Gross Operating Costs
£1,035,532
£1,866,224
£2,879,184
£3,148,818
Average Burn/Month (Personnel & ALL Overheads)
£86,294
£155,519
£239,932
£262,401
Overheads (Units)
PROFIT & LOSS Profit & Loss (ex VAT) Schedule
Year 1
Year 2
Year 3
Year 4
£2,385,857
£3,673,863
£4,038,662
Revenue 1. Yearly Revenue (Wolf-Owned Units) 2. Franchise Fees
£120,000
£180,000
£240,000
£0
3. Franchisee Royalties Revenue
£210,348
£453,587
£850,477
£1,084,608
4. Marketing Fees (Franchised Units)
£53,286
£133,038
£264,426
£341,516
5. Other Revenues
£31,460
£130,882
£349,814
£431,324
Gross Revenue
£1,667,397
£3,283,364
£5,378,580
£5,896,111
Subtotal of Direct Costs/Cost of Sales (ex Marketing)
£446,752
£824,886
£1,250,128
£1,231,792
Discounts on Weekly Sales
£37,569
£71,576
£110,216
£121,160
Wastage
£12,523
£23,859
£36,739
£40,387
Gross Direct Costs & Other Costs of Sale
£496,844
£920,321
£1,397,083
£1,393,339
Gross Profit
£1,170,553
£2,363,043
£3,981,497
£4,502,772
Gross Profit %
70%
72%
74%
76%
£554,120
£1,103,872
£1,539,729
£1,652,454
Subtotal Marketing Expenditure
£108,594
£157,038
£288,426
£365,516
%
7%
5%
5%
6%
Subtotal Overheads
£29,904
£30,175
£30,453
£30,738
Existing Chiswick Unit
1
1
1
New Wolf Units (London)
2
2
3
3
New Wolf Units (Outside London)
0
2
3
3
Gross Wolf Units
3
5
7
7
Subtotal Overheads
£342,914
£575,140
£1,020,575
£1,100,109
Gross Operating Costs
£1,035,532
£1,866,224
£2,879,184
£3,148,818
EBITDA
£135,020
£496,818
£1,102,314
£1,353,954
Depreciation
£33,929
£78,429
£126,381
£133,714
PBIT (Profit Before Interest & Taxes)
£101,092
£418,390
£975,933
£1,220,240
Interest (Bank Loans etc.)
£0
£0
£0
£0
PBI (Taxable Profits)
£101,092
£418,390
£975,933
£1,220,240
Corporate Taxes
£20,218
£83,678
£195,187
£244,048
Net Profit
£80,874
£334,712
£780,746
£976,192
Net Profit %
4.90%
10.20%
14.50%
16.60%
Personnel Subtotal Personnel Expenditure Marketing
Overheads (Head Office)
Overheads (Units)
ANNUAL REVENUE Gross Revenue £5,896,111 £5,138,580
£3,103,364
£1,547,397
Year 1
Year 2
Year 3
Year 4
ANNUAL REVENUE BY STREAM £4,500,000 £4,000,000 £3,500,000 £3,000,000 £2,500,000 £2,000,000 £1,500,000 £1,000,000 £500,000 £0 Wolf Unit Sales
Royalties
Marketing Fees
Other Revenue Commission
Year 1
£1,252,303
£210,348
£53,286
£31,460
Year 2
£2,385,857
£453,587
£133,038
£130,882
Year 3
£3,673,863
£850,477
£264,426
£349,814
Year 4
£4,038,662
£1,084,608
£341,516
£431,324
ANNUAL PROFITS £5,000,000 £4,500,000 £4,000,000 £3,500,000 £3,000,000 £2,500,000 £2,000,000 £1,500,000 £1,000,000 £500,000 £0 Net Profit Gross Profit
Year 1
Year 2
Year 3
Year 4
£80,874
£334,712
£780,746
£976,192
£1,170,553
£2,363,043
£3,981,497
£4,502,772
CASH FLOW Cash Flow (ex VAT) Schedule
Year 1
Year 2
Year 3
Year 4
New Wolf Units (London)
2
-
1
-
New Wolf Units (Outside London)
-
2
1
-
Gross Wolf Units
2
2
2
-
1. Yearly Revenue (Wolf-Owned Units)
£1,252,303
£2,385,857
£3,673,863
£4,038,662
2. Franchise Fees
£120,000
£180,000
£240,000
£0
3. Franchisee Royalties Revenue
£187,908
£430,919
£819,721
£1,080,056
4. Marketing Fees (Franchised Units)
£47,066
£125,524
£254,239
£340,067
5. Other Revenues
£24,480
£110,630
£311,457
£426,359
Cash Sales
£1,631,757
£3,232,930
£5,299,279
£5,885,145
VAT Collected
£0
£0
£0
£0
VAT Repayments
£0
£0
£0
£0
New Current Borrowing
£0
£0
£0
£0
New Other Liabilities (Directors Loan interest-free)
£0
£0
£0
£0
New Fixed Liabilities
£0
£0
£0
£0
Sales of Other Current Assets
£0
£0
£0
£0
Sales of Fixed Assets
£0
£0
£0
£0
New Investment Received
£750,000
£0
£0
£0
Gross Cash Received
£2,381,757
£3,232,930
£5,299,279
£5,885,145
Subtotal of Direct Costs/Cost of Sales (ex Marketing)
£408,322
£798,626
£1,216,330
£1,234,403
Discounts & Wastage
£50,092
£95,434
£146,955
£161,546
Wages
£554,120
£1,103,872
£1,539,729
£1,652,454
Operational Costs (Excld Wages)
£431,835
£739,320
£1,295,877
£1,492,964
Subtotal Spent on Wages & Operations
£1,444,369
£2,737,252
£4,198,890
£4,541,368
VAT Paid Out
£0
£0
£0
£0
VAT Payments
£0
£0
£0
£0
Current Borrowing Principal Repayment
£0
£0
£0
£0
Other Liabilities Principal Repayment
£0
£0
£0
£0
Fixed Liabilities Principal Repayment
£0
£0
£0
£0
Capital Expenses ( Set-Up Costs) -London
£71,000
£0
£35,500
£0
Capital Expenses (Set-Up Costs) Outside London
£0
£67,000
£33,500
£0
Purchase Other Current Assets
£0
£0
£0
£0
New Wolf Owned Retail Units
£314,500
£311,500
£310,000
£0
Other Fixed Assets
£51,500
£33,500
£37,000
£0
Interest Payments
£0
£0
£0
£0
Corporation Taxes
£0
£20,218
£83,678
£195,187
Dividends
£0
£0
£0
£0
Gross Expenditure
£1,881,369
£3,169,470
£4,698,568
£4,736,554
Net Cash Flow
£500,388
£63,460
£600,711
£1,148,590
Expenditure
Liabilities
BALANCE SHEET Balance Sheet Year 1
Year 2
Year 3
Year 4
Cash
£500,388
£563,847
£1,164,559
£2,313,149
Debtors
£35,640
£86,074
£165,375
£176,341
Total Current Assets
£536,028
£649,921
£1,329,933
£2,489,490
Fixed Assets
£366,000
£711,000
£1,058,000
£1,058,000
Accumulated Depreciation
£33,929
£112,357
£238,738
£372,452
Net Fixed Asset Value
£332,071
£598,643
£819,262
£685,548
Total Assets
£868,099
£1,248,564
£2,149,195
£3,175,037
Current Borrowings
£0
£0
£0
£0
Other Current Liabilities
£0
£0
£0
£0
Accounts Payable
£108,226
£220,979
£409,864
£459,514
Subtotal Current Liabilities
£108,226
£220,979
£409,864
£459,514
Fixed Liabilities
£0
£0
£0
£0
Total Liabilities
£108,226
£220,979
£409,864
£459,514
Paid-in Capital
£750,000
£750,000
£750,000
£750,000
Retained Earnings
-£71,000
-£57,126
£208,585
£989,332
Earnings
£80,874
£334,712
£780,746
£976,192
Total Capital
£759,874
£1,027,585
£1,739,332
£2,715,524
Total Liabilities and Capital
£868,099
£1,248,564
£2,149,195
£3,175,037
Net Worth
£759,874
£1,027,585
£1,739,332
£2,715,524
Current Assets
Fixed Assets
Liabilities and Capital
KEY FINANCIAL INDICATORS Key Financial Indicators Schedule
Year 1
Year 2
Year 3
Year 4
Existing Wolf-Owned Units
1
3
5
7
Existing Franchised Units
3
9
18
30
New Wolf Units
2
2
2
-
New Franchise Units
6
9
12
-
Gross Units (Existing, New & Franchises)
12
23
37
37
1. Yearly Wolf-Owned Units Revenue
£1,252,303
£2,385,857
£3,673,863
£4,038,662
2. Franchise Fees
£120,000
£180,000
£240,000
£0
3. Franchisee Royalties Revenue
£210,348
£453,587
£850,477
£1,084,608
4. Marketing Fees (Franchised Units)
£53,286
£133,038
£264,426
£341,516
5. Other Revenues
£31,460
£130,882
£349,814
£431,324
Gross Revenue
£1,667,397
£3,283,364
£5,378,580
£5,896,111
Direct Costs & Other Costs of Sale
£496,844
£920,321
£1,397,083
£1,393,339
Gross Profit
£1,170,553
£2,363,043
£3,981,497
£4,502,772
Gross Profit %
70%
72%
74%
76%
Personnel (Head Office & Wolf Owned Retail Units)
£554,120
£1,103,872
£1,539,729
£1,652,454
Local & National Marketing (Wolf Owned Retail Units)
£108,594
£157,038
£288,426
£365,516
Head Office Overheads
£29,904
£30,175
£30,453
£30,738
Wolf Owned Retail Units Overheads
£342,914
£575,140
£1,020,575
£1,100,109
Gross Operating Expenses
£1,035,532
£1,866,224
£2,879,184
£3,148,818
EBITDA
£135,020
£496,818
£1,102,314
£1,353,954
EBITDA %
8%
15%
20%
23%
Depreciation
£33,929
£78,429
£126,381
£133,714
PBI (Taxable Profits)
£101,092
£418,390
£975,933
£1,220,240
Corporate Taxes
£20,218
£83,678
£195,187
£244,048
Net Profit
£80,874
£334,712
£780,746
£976,192
Net Profit %
5%
10%
15%
16.60%
New Investment Received
£750,000
£0
£0
£0
Paid-in Capital
£750,000
£750,000
£750,000
£750,000
Dividends
£0
£0
£0
£0
Total Assets
£868,099
£1,248,564
£2,149,195
£3,175,037
New Other Liabilities (interest-free)
£0
£0
£0
£0
Total Liabilities
£108,226
£220,979
£409,864
£459,514
Net Worth
£759,874
£1,027,585
£1,739,332
£2,715,524
Cash Balance
£500,388
£563,847
£1,164,559
£2,313,149
Revenue
SEIS INVESTMENT BENEFITS First £150,000 investment (single or combined investment) eligible for 50% tax relief under Seed Enterprise Investment Scheme (SEIS). £150,001 -£750,000 (single or combined investment) eligible for 30% tax relief under Enterprise Investment Scheme (EIS). No Capital Gains and Inheritance Tax on profits. No Capital Gains and Inheritance Tax on share disposal. Downside Protection: For 2014/15 Tax Year, investors will get back £8,650 from £10,000 investment if the company fails assuming the investor pays enough tax to use the relief.